News

WWII graves desecrated again in Libya

By | 2012-06-17T10:37:39-04:00 June 17th, 2012|News|

Headstones on World War II military graves in Libya’s eastern city of Benghazi have again been desecrated in the second such attack in four months, local officials said on Saturday.   “On Thursday, Christian graves were desecrated for a second time in Benghazi,” Mohammed al-Quzairi of the local security committee told AFP, adding that the

Arab Monetary Fund in $65 million loan to Egypt

By | 2012-06-17T10:15:00-04:00 June 17th, 2012|News|

The Arab Monetary Fund (AMF) said on Sunday it was arranging a $65 million credit facility for Egypt to help the country trade with other Arab states, as political instability threatens Cairo with a balance of payments crisis.   The credit line will be extended through a trade financing program run by the AMF, central

‘Low Turnout’ in Egypt

By | 2012-06-17T09:49:32-04:00 June 17th, 2012|News|

Voter turnout in the first day of the second round of the presidential elections in Egypt was low, compared to the first day of the first round.   In this final round, only two candidates remain in the race: the secular Ahmed Shafiq, and the Muslim Brotherhood's Mohamed Morsi.   The ruling military council officially

Eritrean Arrested for Aiding Terror

By | 2012-06-17T08:53:02-04:00 June 17th, 2012|News|

The police's National Unit for International Investigations has arrested an Eritrean citizen, Kabri Gabrius, who lives in Tel Aviv, on suspicion of assisting a terror group.   Gabrius, 22, is suspected of involvement in a terror group that operates in the Sinai Desert. He is believed to have been raising funds and collecting intelligence information

South Sudan and U.N. investigate reports of rape by police

By | 2012-06-16T19:24:59-04:00 June 16th, 2012|News|

The United Nations and South Sudanese authorities said on Friday they were investigating reports police had abducted and raped women during a disarmament program in the east of the troubled African nation.    South Sudan declared independence from Sudan a year ago under a 2005 peace agreement that ended decades of civil war. But its

New Egyptian crisis threatens currency, finances

By | 2012-06-16T18:32:04-04:00 June 16th, 2012|News|

The dissolution of the Egyptian parliament elected after last year’s overthrow of veteran president Hosni Mubarak has alarmed investors who fear the country will now hurtle towards a balance of payments crisis and currency collapse.   Growth in North Africa’s biggest economy has flatlined in the 16 months since the toppling of Mubarak’s 30-year regime.

Egypt’s presidential runners: Mohammed Mursi and Ahmed Shafiq

By | 2012-06-16T17:57:13-04:00 June 16th, 2012|News|

The Muslim Brotherhood’s Mohammed Mursi, who faces ex-premier Ahmed Shafiq in a two-day presidential run-off, has pledged that Egypt under his leadership will be inclusive, courting secular and Christian voters.   A retiring individual, bearded and bespectacled, Mursi vows to uphold the goals of last year's revolution that ousted Hosni Mubarak and to share power

Fitch downgrades Egypt over political uncertainties

By | 2012-06-16T15:35:11-04:00 June 16th, 2012|News|

Fitch Ratings downgraded Egypt’s sovereign credit rating deeper into junk status on Friday, citing the rising political crisis after the nation’s Supreme Constitutional court annulled parliamentary elections.    The rating, cut by one notch to B-plus from BB-minus, has a negative outlook, meaning there is a greater than 50 percent chance of more downgrades in